In the years 1979 and 1980 under President Jimmy Carter, the annual deficit as a percentage of Gross National Product amounted to 1.59% and 2.65%
In the year from 1981 through 1988 under President Ronald Reagan, the deficit amounted to 2.53%, 3.93%, 5.88%, 4.72%, 5.03%, 4.96%, 3.16%, and 3.04%
During Bill Clinton’s presidency, the deficit from 1993 through 2000 amounted to: 3.83%, 2.87%, 2.21%, 1.37%, 0.26%, -0.79%, -1.34%, -1.34%.
Reagan was an exponent of the Laffer Curve theory which erroneously suggested that big cuts in the rate of taxation would produce greater tax revenue, which was a lot of nonsense.
Nice – illustration but please note that the REPUBLICANS controlled both sides of congress during the lowest years while the democrats controlled both sides of congress during the highest years. Nice try though!
http://uspolitics.about.com/od/usgovernment/l/bl_party_division_2.htm